March 2012 Alberta Economic Fundamentals
- Thread starter Ally
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Alberta group seeks offshore partners for upgrader
The Alberta First Nations Energy Centre (AFNEC), which was chaired by former Syncrude Inc. chief executive officer Eric Newell, wants to build a $6.6-billion upgrading and refining facility near Edmonton. AFNEC believes it needs a secure supply of bitumen for the project to raise the $200-million necessary for further engineering.
Read the full article here.
The Alberta First Nations Energy Centre (AFNEC), which was chaired by former Syncrude Inc. chief executive officer Eric Newell, wants to build a $6.6-billion upgrading and refining facility near Edmonton. AFNEC believes it needs a secure supply of bitumen for the project to raise the $200-million necessary for further engineering.
Read the full article here.
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Levant hard-sells Alberta's oil
Oil from Alberta`s oil sands is a boon to Israel, as other oil producing nations are sworn enemies of the Jewish state, Ezra Levant, Sun News personality, told a London meeting last night.
Oil money from OPEC nations funds attacks on Israel, and human rights violations and terrorist conflict, Levant, author and host of his own television show on Sun TV, told the crowd at the Jewish Community Centre, as part of their lecture series.
`Oil is very important to Israel because it empowers its enemies. Oil is what fuels terrorism; that is where its money comes from,` said Levant.
Read the full article here.
Oil from Alberta`s oil sands is a boon to Israel, as other oil producing nations are sworn enemies of the Jewish state, Ezra Levant, Sun News personality, told a London meeting last night.
Oil money from OPEC nations funds attacks on Israel, and human rights violations and terrorist conflict, Levant, author and host of his own television show on Sun TV, told the crowd at the Jewish Community Centre, as part of their lecture series.
`Oil is very important to Israel because it empowers its enemies. Oil is what fuels terrorism; that is where its money comes from,` said Levant.
Read the full article here.
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Oil sands shouldn't be pawn in climate change debate
Canada is justified in making very clear to the European Union that it may well start a World Trade Organization lawsuit, if there is a vote in favour of a proposed measure that would attach a special opprobrium to oil from the Canadian oil sands, under the EU`s fuel quality directive.
A group called Friends of the Earth Europe is making much of Canadian documents it has obtained under a freedom-of-information request, but in fact Joe Oliver, the Minister of Natural Resources, made public the federal government`s position in October, 2011, in a letter to the EU`s commissioner for energy. He raised the prospect that Canada would `not hesitate to defend its interests` if `unjust, discriminatory measures ... are put in place.`
Read the full article here.
Canada is justified in making very clear to the European Union that it may well start a World Trade Organization lawsuit, if there is a vote in favour of a proposed measure that would attach a special opprobrium to oil from the Canadian oil sands, under the EU`s fuel quality directive.
A group called Friends of the Earth Europe is making much of Canadian documents it has obtained under a freedom-of-information request, but in fact Joe Oliver, the Minister of Natural Resources, made public the federal government`s position in October, 2011, in a letter to the EU`s commissioner for energy. He raised the prospect that Canada would `not hesitate to defend its interests` if `unjust, discriminatory measures ... are put in place.`
Read the full article here.
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Alberta could lead next national energy program
LETHBRIDGE -- Many will remember the made-in-Alberta bumper sticker of the 1980s that told Canadians outside of Alberta that they could "freeze in the dark." The message caught the mood of many Albertans enraged by the National Energy Policy. In his role as premier, Ralph Klein rarely missed the opportunity to invoke memories of the NEP while telling the "feds" and his provincial counterparts in no uncertain terms to keep their paws off Alberta's resources. In those days, Alberta was content to play a limited, even isolated, role in Canada's national dialogue; a stance emulated by the Reform Party and repeated scant years ago by several prominent Albertans, including the current prime minister, who advised the provincial government to erect firewalls to protect against the barbarians at Alberta's gates.
Recently, however, Alberta's new government, under Premier Alison Redford, has turned its gaze outwards, its hands open in an apparent gesture of goodwill. Where previous Alberta governments have exhibited a false bravado, mixed with terminal paranoia, the current government exudes a refreshing confidence in wanting to re-engage with the rest of Canada.
Read the full article here.
LETHBRIDGE -- Many will remember the made-in-Alberta bumper sticker of the 1980s that told Canadians outside of Alberta that they could "freeze in the dark." The message caught the mood of many Albertans enraged by the National Energy Policy. In his role as premier, Ralph Klein rarely missed the opportunity to invoke memories of the NEP while telling the "feds" and his provincial counterparts in no uncertain terms to keep their paws off Alberta's resources. In those days, Alberta was content to play a limited, even isolated, role in Canada's national dialogue; a stance emulated by the Reform Party and repeated scant years ago by several prominent Albertans, including the current prime minister, who advised the provincial government to erect firewalls to protect against the barbarians at Alberta's gates.
Recently, however, Alberta's new government, under Premier Alison Redford, has turned its gaze outwards, its hands open in an apparent gesture of goodwill. Where previous Alberta governments have exhibited a false bravado, mixed with terminal paranoia, the current government exudes a refreshing confidence in wanting to re-engage with the rest of Canada.
Read the full article here.
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Edmonton isn't getting the credit it deserves
I`m sick and tired of Edmonton being Canada`s forgotten city.
Every time, on every national newscast, it`s about Toronto, Montreal, Calgary and Vancouver.
Where`s Edmonton in the national consciousness? Where`s our hustle and bustle?
Welcome to Hicks on Biz, the new weekly Edmonton Sun business column with one overriding objective ` to let you, and the rest of the world, know that Edmonton is the most dynamic, fastest growing, best-quality-of-life, best-positioned-for-the-future city in Canada. And, if any of our cylinders aren`t firing as they should, constructive commentary will be offered to stay on course.
Read the full article here.
I`m sick and tired of Edmonton being Canada`s forgotten city.
Every time, on every national newscast, it`s about Toronto, Montreal, Calgary and Vancouver.
Where`s Edmonton in the national consciousness? Where`s our hustle and bustle?
Welcome to Hicks on Biz, the new weekly Edmonton Sun business column with one overriding objective ` to let you, and the rest of the world, know that Edmonton is the most dynamic, fastest growing, best-quality-of-life, best-positioned-for-the-future city in Canada. And, if any of our cylinders aren`t firing as they should, constructive commentary will be offered to stay on course.
Read the full article here.
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Alberta apartment rents could rise
EDMONTON, AB, Feb. 27, 2012/ Troy Media/ - While the housing market tends to steal the show when it comes to economic indicators, the apartment rental market still provides accommodation for hundreds of thousands of Albertans. Apartment rents have remained fairly steady over the past few years, but with another economic boom underway in Alberta, that could change.
According to the Consumer Price Index, rental accommodation in the province stood at an index level of 123.1 in January 2012 (with 2002=100).
Read the full article here.
EDMONTON, AB, Feb. 27, 2012/ Troy Media/ - While the housing market tends to steal the show when it comes to economic indicators, the apartment rental market still provides accommodation for hundreds of thousands of Albertans. Apartment rents have remained fairly steady over the past few years, but with another economic boom underway in Alberta, that could change.
According to the Consumer Price Index, rental accommodation in the province stood at an index level of 123.1 in January 2012 (with 2002=100).
Read the full article here.
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Edmonton renters face tight market
Vacancy rates for multi-family dwellings in Edmonton shrank by almost a full percentage point last year, according to a report released Mon. by Avison Young.
Overall vacancy changed from 4.2 per cent in 2010 to 3.3 per cent in 2011, despite a small increase in vacancy in the city's outlying areas. The south of Edmonton, according to the re-port, was an especially tough market for renters with a vacancy rate of 1.4 per cent, while the north had a rate of five per cent.
Read the full article here.
Vacancy rates for multi-family dwellings in Edmonton shrank by almost a full percentage point last year, according to a report released Mon. by Avison Young.
Overall vacancy changed from 4.2 per cent in 2010 to 3.3 per cent in 2011, despite a small increase in vacancy in the city's outlying areas. The south of Edmonton, according to the re-port, was an especially tough market for renters with a vacancy rate of 1.4 per cent, while the north had a rate of five per cent.
Read the full article here.
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Why natural gas is already a game changer
Natural gas is a game changer for the U.S. economy according to PIMCO`s Mark Kiesel (via Josh Brown). The report says:
`The energy sector is growing more quickly than the overall economy in numerous areas around the globe due to supportive long-term demand fundamentals from the emerging markets and emerging global supply sources. In the U.S., the use of new drilling technologies for onshore natural gas and oil production is a potential `game changer` for U.S. energy security and an improved economy.`
But how exactly is natural gas a game changer?
First, it`s lowering costs. Onshore shale natural gas production has surged in areas like Marcellus, Haynesville, Fayetteville and Barnett formations. Natural gas output has increased to 22.7 trillion cubic feet (tcf) in October 2011, from 20.2 tcf in December 2007. This has helped push down nat gas prices, and is expected to lower heating costs in the future.
Read the full article here.
Natural gas is a game changer for the U.S. economy according to PIMCO`s Mark Kiesel (via Josh Brown). The report says:
`The energy sector is growing more quickly than the overall economy in numerous areas around the globe due to supportive long-term demand fundamentals from the emerging markets and emerging global supply sources. In the U.S., the use of new drilling technologies for onshore natural gas and oil production is a potential `game changer` for U.S. energy security and an improved economy.`
But how exactly is natural gas a game changer?
First, it`s lowering costs. Onshore shale natural gas production has surged in areas like Marcellus, Haynesville, Fayetteville and Barnett formations. Natural gas output has increased to 22.7 trillion cubic feet (tcf) in October 2011, from 20.2 tcf in December 2007. This has helped push down nat gas prices, and is expected to lower heating costs in the future.
Read the full article here.
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McGuinty's ungracious response to Premier of Alberta's appeal for support on the Keystone XL pipeline
Dalton McGuinty, the Premier of Ontario, should not have responded ungraciously to an appeal by Premier Alison Redford of Alberta for solidarity from Ontario and Quebec, in the course of her speech on Friday to the Small Explorers and Producers Association on Friday. In particular, she wants the Premiers of the two Central Canadian provinces to help articulate the importance of the Keystone XL pipeline to the country as a whole.
Read the full article here.
Dalton McGuinty, the Premier of Ontario, should not have responded ungraciously to an appeal by Premier Alison Redford of Alberta for solidarity from Ontario and Quebec, in the course of her speech on Friday to the Small Explorers and Producers Association on Friday. In particular, she wants the Premiers of the two Central Canadian provinces to help articulate the importance of the Keystone XL pipeline to the country as a whole.
Read the full article here.
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Ontario bashes Alberta oil sands to make play for federal cash
Ontario Premier Dalton McGuinty, his province in hock up to a looming $400-billion and his political future looking grim, has decided to do what demagogues often do best: take on an extraterritorial foe. If you can`t win at home, maybe you can pretend to destroy some mythical foe thousands of kilometres away. These days, what could be safer for a broke lefty premier who has squandered billions on dead-end green energy projects than to direct attention to Alberta`s oil sands and Alberta Premier Alison Redford.
What Mr. McGuinty is really after here, however, is not the humiliation of Alberta but the transfer of federal cash to Ontario. The oil sands comments are a pretext, another McGuinty McGuffin that is the front for other real motives.
Read the full article here.
Ontario Premier Dalton McGuinty, his province in hock up to a looming $400-billion and his political future looking grim, has decided to do what demagogues often do best: take on an extraterritorial foe. If you can`t win at home, maybe you can pretend to destroy some mythical foe thousands of kilometres away. These days, what could be safer for a broke lefty premier who has squandered billions on dead-end green energy projects than to direct attention to Alberta`s oil sands and Alberta Premier Alison Redford.
What Mr. McGuinty is really after here, however, is not the humiliation of Alberta but the transfer of federal cash to Ontario. The oil sands comments are a pretext, another McGuinty McGuffin that is the front for other real motives.
Read the full article here.
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Everything you know about peak oil is wrong
At some point in the coming months, the confrontation between the West and Iran over the Islamic republic`s nuclear program may reach a breaking point. Even assuming the two sides manage to avoid full-fledged military conflict, the crisis could still cause significant disruption to the world economy. An embargo against Iranian oil exports, or a move by Iran`s leaders to close the Straits of Hormuz`or both`could send the price of oil soaring and jeopardize the re-election hopes of leaders from Paris to Washington. And as happens with every oil crisis, pundits will insist that the pain we`re feeling is nothing compared to what it will be like when the world finally runs out of black gold.
Read the full article here.
At some point in the coming months, the confrontation between the West and Iran over the Islamic republic`s nuclear program may reach a breaking point. Even assuming the two sides manage to avoid full-fledged military conflict, the crisis could still cause significant disruption to the world economy. An embargo against Iranian oil exports, or a move by Iran`s leaders to close the Straits of Hormuz`or both`could send the price of oil soaring and jeopardize the re-election hopes of leaders from Paris to Washington. And as happens with every oil crisis, pundits will insist that the pain we`re feeling is nothing compared to what it will be like when the world finally runs out of black gold.
Read the full article here.
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TransCanada won't be building pipeline in Montana until 2013 at the earliest
HELENA ` While TransCanada this week announced it will start building a portion of the Keystone XL oil pipeline in Texas and Oklahoma, it won`t construct any part of the line through Montana unless a presidential permit is granted next year, a company spokesman said Tuesday.
`We are still very much committed to building that section of pipeline (through Montana), and continue to move forward on it,` said Terry Cunha, a TransCanada spokesman in Calgary.
Read the full article here.
HELENA ` While TransCanada this week announced it will start building a portion of the Keystone XL oil pipeline in Texas and Oklahoma, it won`t construct any part of the line through Montana unless a presidential permit is granted next year, a company spokesman said Tuesday.
`We are still very much committed to building that section of pipeline (through Montana), and continue to move forward on it,` said Terry Cunha, a TransCanada spokesman in Calgary.
Read the full article here.
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Our peak oil premium
Peak oil ` it`s history, right?
Everything has changed so fast.
Two years ago, the world was facing an intractable oil crisis. `By 2012, surplus oil production capacity could entirely disappear,` the U.S. Defence Department declared in a major report. `A severe energy crunch is inevitable without a massive expansion of production and refining capacity.`
Read the full article here.
Peak oil ` it`s history, right?
Everything has changed so fast.
Two years ago, the world was facing an intractable oil crisis. `By 2012, surplus oil production capacity could entirely disappear,` the U.S. Defence Department declared in a major report. `A severe energy crunch is inevitable without a massive expansion of production and refining capacity.`
Read the full article here.
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Bill Clinton supports Keystone XL
Suddenly the Keystone XL pipeline is all the talk of American politics - again.
A day after Republican presidential candidate Mitt Romney said Americans "deserve" the Canadian oil that Keystone would deliver, former U.S. president Bill Clinton said it was time for the U.S. to "embrace" the long-delayed project.
Read the full article here.
Suddenly the Keystone XL pipeline is all the talk of American politics - again.
A day after Republican presidential candidate Mitt Romney said Americans "deserve" the Canadian oil that Keystone would deliver, former U.S. president Bill Clinton said it was time for the U.S. to "embrace" the long-delayed project.
Read the full article here.
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Alberta businesses call for action to forestall labour shortage
CALGARY ` Spurred by a new wave of labour shortages across Western Canada, a powerful coalition of Alberta business groups is calling on governments to make it easier for the province's employers to attract workers.
The 19-member Alberta Coalition for Action on Labour Shortages includes representatives from the Canadian Association of Petroleum Producers, the Alberta Federation of Independent Business and every major sector of the province's economy.
The coalition, launched Thursday in Edmonton, said Alberta is expected to have 114,000 vacant jobs in coming years, a trend which is increasingly evident across Western Canada.
Read the full article here.
CALGARY ` Spurred by a new wave of labour shortages across Western Canada, a powerful coalition of Alberta business groups is calling on governments to make it easier for the province's employers to attract workers.
The 19-member Alberta Coalition for Action on Labour Shortages includes representatives from the Canadian Association of Petroleum Producers, the Alberta Federation of Independent Business and every major sector of the province's economy.
The coalition, launched Thursday in Edmonton, said Alberta is expected to have 114,000 vacant jobs in coming years, a trend which is increasingly evident across Western Canada.
Read the full article here.
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Leduc rental market runs higher than Edmonton
In the City of Leduc, rent for a two-bedroom apartment is on average $1,086 per month, according to the Fall 2011 Rental Market Report published by the Canada Mortgage and Housing Corporation (CMHC).
The amount has increased from 2010 numbers, which saw the average rent for a two-bedroom unit listed as $1,040. Experts state the increase in rent prices could be a result of the community growing, but some Leduc residents believe there should be a cap on the rent prices they believe are climbing too high.
Read the full article here.
In the City of Leduc, rent for a two-bedroom apartment is on average $1,086 per month, according to the Fall 2011 Rental Market Report published by the Canada Mortgage and Housing Corporation (CMHC).
The amount has increased from 2010 numbers, which saw the average rent for a two-bedroom unit listed as $1,040. Experts state the increase in rent prices could be a result of the community growing, but some Leduc residents believe there should be a cap on the rent prices they believe are climbing too high.
Read the full article here.
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Labour crunch threatens Alberta's growth, groups warn
EDMONTON - An alliance of 19 Alberta business organizations called on the federal and provincial governments to cut red tape around labour immigration on Thursday.
`The simple fact remains that we do not have enough people in Alberta to fill the jobs today and the thousands of jobs that are anticipated,` said Tim Shipton, president of the Alberta Enterprise Group. `If there is going to be any limit to the growth in Alberta, it is the lack of people to fill jobs.`
Read the full article here.
EDMONTON - An alliance of 19 Alberta business organizations called on the federal and provincial governments to cut red tape around labour immigration on Thursday.
`The simple fact remains that we do not have enough people in Alberta to fill the jobs today and the thousands of jobs that are anticipated,` said Tim Shipton, president of the Alberta Enterprise Group. `If there is going to be any limit to the growth in Alberta, it is the lack of people to fill jobs.`
Read the full article here.
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Act now to protect owners of condos and homes, Liberal MLA urges province
EDMONTON - Liberal MLA Laurie Blakeman says the provincial government is `ripping off condominium owners and homeowners in Alberta` by delaying new consumer protections until the fall.
Blakeman, MLA for Edmonton-Centre and the Liberal`s municipal affairs critic, talked about her concerns over new home and condo owner protection just a week after nearly 150 residents of the Bellavera Green Condominium complex in Leduc were given a month`s notice to vacate the building due to critical safety concerns.
Read the full article here.
EDMONTON - Liberal MLA Laurie Blakeman says the provincial government is `ripping off condominium owners and homeowners in Alberta` by delaying new consumer protections until the fall.
Blakeman, MLA for Edmonton-Centre and the Liberal`s municipal affairs critic, talked about her concerns over new home and condo owner protection just a week after nearly 150 residents of the Bellavera Green Condominium complex in Leduc were given a month`s notice to vacate the building due to critical safety concerns.
Read the full article here.
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Ottawa torn on Alberta's labour woes
EDMONTON - Jason Kenney says he has heard the alarm bells ringing, loud and clear.
He knows Alberta`s oilsands-powered economy is on the cusp of another serious labour crunch, with a projected shortage of 114,000 workers over the next decade.
A coalition of 19 Alberta business groups hammered that message home yet again this week, calling for more action from the feds to avert what they see as a looming crisis and a serious threat to the province`s prosperity.
As Canada`s citizenship and immigration minister, Kenney says he`s working hard to address the gap, in part by tweaking the immigration points system so more skilled workers can get into the country.
Read the full article here.
EDMONTON - Jason Kenney says he has heard the alarm bells ringing, loud and clear.
He knows Alberta`s oilsands-powered economy is on the cusp of another serious labour crunch, with a projected shortage of 114,000 workers over the next decade.
A coalition of 19 Alberta business groups hammered that message home yet again this week, calling for more action from the feds to avert what they see as a looming crisis and a serious threat to the province`s prosperity.
As Canada`s citizenship and immigration minister, Kenney says he`s working hard to address the gap, in part by tweaking the immigration points system so more skilled workers can get into the country.
Read the full article here.